Questions tagged [proof-of-work]

This tag should be used for questions regarding how Proof of Work works and Proof of Work algorithms. Proof of Work is a scheme where a 3rd party can verify that someone performed at least a certain amount of work to produce something. This is used in Bitcoin mining.

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165 views

Creating blocks while more transactions arrive and proof of work mechanics

I am having a hard time understanding the details of how blocks are getting created by miners while many transactions are being received by various nodes at slightly different times and what ...
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2answers
830 views

How many nonces on average do I need to try in order to get n leading zeros?

Assuming 256-bit hash output, how does the (average) number of nonces I need to try (to solve the proof-of-work puzzle) grow with the number of leading zeroes required, n? Is there a bound on this ...
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3k views

How much “Proof of work accepted by server” needed to generate 1 bitcoin (or a part of it) [duplicate]

I am using Bitminter client, and I am confusing about how much I earn in one week while my system working overnight. https://bitminter.com/ says "Mining one bitcoin with just a PC now takes millions ...
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2answers
112 views

Would an optimization proof-of-work problem where the entity with the lowest hash wins have any security weakness or other disadvantage?

I am wondering if there would be any security deficiencies if cryptocurrencies such as Bitcoin were to change their proof-of-work problems to optimization contests. For example, suppose Bitcoin were ...
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1answer
285 views

The 51% assumption

I am new to understanding how bitcoin works but reading up a little on PoS and PoW, I understand that anyone with over 50% of the network resources (bitcoins or computing power respectively) can ...
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193 views

Why was the chain with the largest work chosen as the metric of consensus?

There seems to be a myriad of ways to find consensus (PoW, PoS, PoD, PoE and various other methods and hybrid approaches). What was the reasoning behind bitcoin being PoW and treating the chain with ...
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2answers
2k views

Generating blocks in regtest: “hash doesn't match nBits”

I'm getting this error in regtest mode after setgenerate RPC: ERROR: CheckProofOfWork() : hash doesn't match nBits After looking for error text in src I found a match in pow.cpp (obviously ...
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2answers
155 views

Are there any stochastically dependent proof of work algorithms?

In bitcoin, the probability of discovering a block on the X-th hash is the same1 as it is on the Y-th hash. As such, the probability of discovery is stochastically independent. Are there proof of ...
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2answers
82 views

Theoretical security of mining bitcoins

Is it possible to change rules of mining bitcoin division? rewrite P2P bitcoin client (or write maleware) which will be pretending that fake bitcoin client is legal, original client distribute ...
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1answer
880 views

Confirmation limit

When seeing transactions I see that the number of confirmations keeps increasing without any limit. I wanted to know if there is any time limit on including a already confirmed transaction in a block ...
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4answers
894 views

Is mining the unfair part of bitcoin in the same way banks (or rather, fractionary reserve systems) are to current monetary system?

I've been reading a lot about bitcoin lately and I'm very interested. Especially, when it comes to making a currency that is way more fair, because it avoids a centralized control of it. However, in ...
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46 views

How much more energy efficient is PoS (proof of stake) than PoW (proof of work)? Are there any figures on this?

I've been trying to look for some evidence showing that PoS is more energy-efficient than PoW. In theory, it's true, but if there are any figures or stats you can share on this, I'd be very grateful. ...
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1answer
46 views

Who decides for Blockchain PoW puzzle?

In PoW algorithm a miner has to solve a mathematical puzzle whose difficulty depends upon load on network and total computing power. But who decides what would be that puzzle for each block? For ...
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40 views

Why does it make sense for mining pools to send empty blocks to miners in Stratum v1?

I am reading the recently released specs of Stratum v1 versus Stratum v2. One of the features is that "it is equally as efficient for pools to send full blocks for miners to begin working on as it is ...
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1answer
70 views

How to model randomness in validators selection in PoS?

I searched a lot here and on the Internet to figure how how randomness selection of validators in PoS works? I understand it is a random selection based on fraction of stake a validator has, similar ...
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2answers
188 views

What is entropy mean in this context?

"The Bitcoin nonce forms part of the block header, which is used by miners to provide entropy as part of the Proof of Work process, to try and find a hash meeting the difficulty requirement." Quote ...
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1answer
180 views

Partial Proof of Work in Pools

Technically speaking a full PoW solution is one whose hash value is below a certain threshold value say V. It is not equivalent to saying that the hash value must begin with say X number of zeros (...
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1answer
38 views

Security via Proof - of - Work

I am reading Satoshi's original paper, merely for the sake of understanding the concept. I have minimal computer science background (some), mostly just mathematics. In Section 4. Proof of Work of ...
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1answer
175 views

My coin - Proof-of-Action

I am writing a project on cryptocurrencies. As a part of this project, I thought of a new token for web services exchange. I tried to combine PoW and PoS and here is what I have. I called it Proof-of-...
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4answers
116 views

Use of proof of work in bitcoin

I am trying to understand what problem in bitcoin proof of work solves and came to this somewhat helpful quote: So, for instance, if a miner controls one percent of the computing power being used ...
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1answer
144 views

Blockchain beyond bitcoin etc. - Who is mining?

People are praising the blockchain for use in all kinds of environments where a secure transaction history is required, e.g. logistics etc. My question: Let's say someone sets up a blockchain for ...
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1answer
294 views

A theoretical low cost attack scenario in PoW currencies

The scenario was designed by user:croraf and me in discussing a question of mine yesterday. To make it more clear, I want to present it here again in a stricter design. To do it in a clear way, first ...
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2answers
119 views

How does the network know the legitimate chain in a double-spend attempt?

Apologies if this has been covered, but there's one area of the Bitcoin network that is not clear in my head, and it's intimately linked to the double-spend problem. Suppose Person A is purchasing an ...
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1answer
140 views

How is mining time validated?

New target is calculated from the T(new_block-1) - T(new_block-2016). Here T is the time miner mined the block. Miner itself sets this time for the block. Thus miner can falsify this time. I see a ...
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1answer
106 views

Are transactions verified before miner solves the block?

In the PoW mining equation... Hash = (Nonce x prev_hash x list of transactions) the miners find the nonce to add the block to the blockchain and receive the block reward. As we can see, the hash is ...
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2answers
219 views

Is the purpose of proof-of-work the immutability of the blockchain?

I have a disagreement with a person: I believe that the primary and most important goal of including proof-of-work (and therefore the nonce) in a block is to make it hard for an attacker to change ...
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1answer
200 views

Does 4 byte Nonce enough to proof of work?

Is it always possible to find an hash value of a block, smaller than the current difficulty, just using 4 byte (Nonce) ? How can we be sure about it ?
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161 views

Zero-BTC transaction fees, service-specific mining pools and external compensation

Bitcoin is a network that is proven to be stable, but if you want applications on top of Blockchains you have to play by the rules of the system. For notary use cases (for example), where you would ...
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1answer
479 views

Abrupt increase in difficulty of proof-of-work

I am simulating a private bitcoin network that I started with the initial difficulty set to (1/2)^16, however after about 20 blocks of mining on the network it increased to 1 and has been constant ...
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0answers
26 views

security of the mining algorithms litecoin vs bitcoin - scrypt vs sha256?

how is the cryptanalysis' current state on both sha256 and litecoin's scrypt? is litecoin's scrypt on a security level like sha256? by security i simply mean ways to "break"/"de-cipher" the hash ...
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1answer
23 views

A question about Proof-of-Work(PoW)

I will describe my question using an example. Let's say the network is working on adding block #100 to the blockchain. An attacker recreates block #99 with a combination of transactions that are "...
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1answer
50 views

Timer-based consensus algorithm in blockchain

Assume that there is an algorithm that ensures: 1- That a full node chooses an honest random wait time. 2- That the same node has waited the specified amount of time before proceeding to mine a block. ...
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0answers
79 views

Proof-of-Stake: How to ensure immutability of the blockchain?

In Proof-of-Work, a miner tries to solve PoW puzzle based on the hash of previous block, such that in case of changing block B_i, all blocks after that (blocks B_i+1, B_i+2, ...) are no longer valid ...
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192 views

How to check that Genesis Block has valid proof of work using CheckProofOfWork() function?

I have been learning the ins and outs of the bitcoin source code over the past 3 months but I can say I have not fully mastered it yet. I wish to understand how the genesis block is validated using ...
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2answers
4k views

altcoin debug.log shows ERROR: CTxDB::LoadBlockIndex() : Failed stake modifier checkpoint height=0 [closed]

What I have done so far: Generated new Genesis Block Generated new MerkleRoot Updated MerkleRoot Updated Genesis block values Commented out these lines Compiled on CentOS 6 Created altcoin....
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0answers
41 views

What's a good repo to fork if you want to create a blockchain like a “Math” coin or Curecoin. (mining equations, not hashes)

I want to create my own crypto currency and I want to know what's the best github repo to fork when it comes to making a blockchain that's based off of getting the miners to do mathematical ...
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0answers
162 views

Limit of Proof of Work [duplicate]

I do not have a complete understanding of bitcoin, but I feel that the PoW concept will not do it in the long run, so I need you to explain to me if I'm wrong. First of all, all this work force is ...
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0answers
109 views

What are bitcoin miners actually solving? [duplicate]

I've read all other answer, but nobody really gives an answer. Whom for are they solving, and what entity outside BTC community has benefits from all the electric energy wasted in the process of doing ...
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1answer
671 views

Where can i find proof of work in bitcoin core source code?

does anyone knows which part of the bitcoin core source code contains the proof of work for mining, creating of block and adding to blockchain? what are the files and functions involves? https://...
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1answer
169 views

Projects built on the Tendermint platform? [closed]

The Tendermint project sounds like a very promising proof-of-stake implementation. What public projects are being built on this platform?
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34 views

Could something like proof of work be provided in the form of human creativity voted on by other humans?

All that's necessary for a proof system in a blockchain, as far as I know, is that mining be hard to do and easy to validate. Creating works of art is hard to do, but determining their value is ...
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2answers
762 views

Why miners solve a puzzle in proof of work

I am new to block chain, In PoW, I know a puzzle is given to the miners to solve and the miner who solve the puzzle and find the nonce first will create the block. But I don't understand why there is ...
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3answers
54 views

What is resource of mining rewards

How the coins must be paid miners for mining process is provided? One of resources may be transactions fee. Is there any other resources for proving reward of miners?
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2answers
82 views

group proof of work

Right now, every node in a Proof of Work system, solves the POW puzzle independently. Is there any concept of group proof of work, where everyone in the group needs to solve part of the puzzle.
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1answer
769 views

Steal proof-of-work answer from a miner [duplicate]

Is it possible to steal proof-of-work answer from a miner who has insecure machine? Consider a miner who has insecure machine found correct answer of proof-of-work and an adversary steals this it and ...
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5answers
175 views

Application of proof of work in bitcoin

Proof of work in spam I understand very well how proof of work is used to prevent email spam for example. Reasoning is since computing the right hash (e.g. with predefined number of zeros for example)...
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1answer
67 views

Proof of work: optimal number of transactions?

I've been struggling with this Q for a while: My initial understanding was that miners start to work on PoW for new block immediately after the previous round's block is confirmed. My Q is this: ...
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2answers
42 views

Incentive for miners to keep mining once reward get very low [duplicate]

Currently each winning miner receive 12.5 bitcoin or 12.5*10 000 dollar per successfully mined block and the amount of bitcoin receive is divided by 2 approximately each 4 years. The incentive to ...
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1answer
29 views

What would the effect of a very long bear market be on the Bitcoin economy?

I don't mean to be a doomsday prophet or spread FUD, but I need to know if Bitcoin (or any PoW coin) investors should be concerned about the following scenario: Assume Bitcoin goes in a very long ...
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1answer
49 views

What is stopping me from modifying the mempool of my node (may it be PoS or PoW)?

I have been trying to wrap my head around some core concepts of how a blockchain works and something has been bothering me for a while. Let's consider a case where I am running a full node of a ...